Petrobras Albacora FPSO (P-88) Bidding
Petrobras is nearing a critical milestone in its deepwater asset renewal program.
The Albacora FPSO (P-88) tender — targeting 120,000 bpd capacity at 670m water depth in the Campos Basin — is now in final countdown, with envelopes set to open on July 27, 2026.
After the first leasing round fell through, Petrobras has pivoted to a Build-Operate-Transfer (BOT) model: the winning bidder builds, operates for a defined period, then transfers the asset back to Petrobras. A significant shift that signals intent to share risk while unlocking private-sector operational expertise.
11 companies have been pre-qualified to compete:
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